Grocery Retailers in Peru

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Executive Summary

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TRENDS

Convenience stores were introduced to the Peruvian market in 2015, and slowly begin to spread through Lima, with less than 40 outlets between four players in this year. However, at the beginning of 2016, one player, Tambo+, stated an aggressive strategy to compete directly with independent small grocers. It plans to have 600 outlets by 2021. It is important to mention that in 2016 it had already opened 15% of this total number of outlets. The other players in convenience stores are also expanding their presence, but in a more conservative way, and expect to open around 10 outlets per year, considering that these players come from chained forecourt retailers and are developing a new business model; Tambo+ is the only one focused completely on the convenience stores channel.

COMPETITIVE LANDSCAPE

In 2016 there was sales concentration amongst three major modern grocery retailers: Supermercados Peruanos, Falabella Perú and Cencosud Retail Peru, with a combined value share of 82% in modern grocery retailers in 2016.

PROSPECTS

The most important factors driving sales in grocery retailers in the forecast period to 2021 will be convenience and proximity to consumers. Despite the fact that the traditional channel maintains the higher share of value sales, the growth of modern grocery retailers is expected to continue, with a value CAGR of 6% at constant 2016 prices in the forecast period; meanwhile, traditional grocery retailers is only expected to see a CAGR of 2%. This will be due to the expansion of hypermarkets, supermarkets and convenience stores. Consumer behaviour will change following the increase in the modern retail channel and the continued increase in the middle-classes, which will boost sales in supermarkets and hypermarkets

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